Est. cap rate

3.4%

Assumed rent, all units

$10,040/mo

Units

4

Price per unit

$437,500

Est. annual NOI

$60,240

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Quadruplex

Bedrooms

4

Building size

3,198 sqft

Lot size

6,251 sqft

Year built

1962

Stories

2

Garage spaces

2

Style

Bungalow

Heating

Floor Furnace,Wall Furnace

Cooling

Wall/Window Unit(s)

Pool

None

View

None

Status

Active

Days on market

5

MLS #

248399239

About this property

Welcome to 449 - 451 Redondo Ave. Updated four-unit property in Belmont Heights, just north of 4th Street, offering an owner-user opportunity or a well-maintained investment with freshly remodeled rear units. The front residence is a classic California bungalow of approx. 1,191 sq ft with 3 bedrooms and 1 bath, a remodeled kitchen with granite counters and maple cabinetry, a full-size laundry area, wood flooring, dual-pane windows, and the period details that define the style: thick wood baseboards, wide door casings and crown molding. A wood gate and pergola open to a landscaped front yard and covered front porch. The separate rear building, approx. 2,000 sq ft, has been remodeled by the current owner. Kitchens feature white shaker cabinetry, quartz counters and backsplash, undermount stainless double sinks and pull-down faucets. Baths have been redone with white subway tile showers, hexagon tile floors, glass shower enclosures, new vanities and toilets, and brushed nickel fixtures. Luxury vinyl plank flooring, fresh paint, new baseboards and ceiling fans complete the updates. The downstairs 2 bed, 1 bath unit offers an expanded kitchen with a second quartz counter run, new stainless gas range, refrigerator and over-the-range microwave, mirrored closet doors, a security screen door, and a private backyard patio with storage shed. Upstairs are two 1 bed, 1 bath units with vaulted, exposed wood-beam ceilings and quartz breakfast bars with pendant lighting; one includes a new stainless refrigerator and range. Exterior touch-up paint was completed this month, including doors, trim, fascia and stairs. Prior owner's improvements include dual-pane windows in both buildings, a foundation upgrade and retrofit on the bungalow, a new sewer main line with multiple clean-outs, and vinyl siding on the bungalow. Two extra-long garages plus 5 additional driveway parking spaces. Close to the shops and dining of 4th Street, Belmont Shore, Bixby Park, the beach, Long Beach Airport and CSULB, with convenient freeway access.

Location

449 Redondo Avenue

Long Beach, Los Angeles, CA, 90814